The EU Digital Market Regulations: Rule-Maker or Deal-Breaker?
Hildegunn Kyvik Nordås,
Magnus Lodefalk and
Joakim Wernberg | 3 February 2022
Trade,
Policy Briefs | Tags:
Digitalization,
Services Trade
The digital transformation of the economy and society gives rise to a need for updated regulations and rules of the game for the digitised market.
Within the EU, this need has been reflected in a number of legislative initiatives, most recently the Digital Markets Act (DMA),
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Greening Financial Governance: Lessons from China
Peter Knaack | 13 January 2022
Monetary,
Discussion Notes | Tags:
China,
Governing Finance,
Green Finance,
Macroprudential Policy
China’s turn towards green financial governance has causes and consequences that are instructive for policymakers elsewhere. This paper traces the evolution of rules and regulations designed to guide China’s financial system towards supporting green firms and projects since the 1990s. It outlines four domestic reasons
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Double Whammy? The Impact of Trade and Automation on High-Skilled Jobs
Hildegunn Kyvik Nordås and
Franziska Klügl | 10 January 2022
Trade,
Blog | Tags:
Artificial Intelligence,
Employment,
Services
As Artificial Intelligence (AI) capabilities for language, speech and image recognition pass human levels, AI-enabled software can perform white collar tasks previously done exclusively by high-skilled humans. Furthermore, white collar jobs in rich countries could face a double whammy. Not only may AI-enabled automation transform
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From Budgetary to Tax Expenditures: Tackling Social Protection in Quebec, Canada
Ysabel Provencher,
André Gerges and
Luc Godbout | 7 January 2022
Fiscal,
Discussion Notes | Tags:
Social Protection,
Tax Expenditures
In his 2018 article "Reimagining Social Protection" Michal Rutkowski, the World Bank's Global Director for Social Protection and Jobs, highlighted the need for new social protection systems that retain their original purpose of fighting poverty, helping households manage uncertainty, and ultimately sparking a more efficient
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Trade and Consumer Prices: The Role of Competitive Transport, Communication, and Distribution Services
Hildegunn Kyvik Nordås | 21 December 2021
Trade,
Blog | Tags:
Competition,
Inflation,
Services Trade,
Transport
The recent spike in consumer price inflation has amply demonstrated that transport, logistics and distribution play a major role in bringing goods from producers to consumers in a timely and cost-effective manner. Conversely, when choke points in the logistics supply chain arise, prices skyrocket (Figure
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The WTO is Back in Business?
Jane Drake-Brockman | 10 December 2021
Trade,
Blog | Tags:
Services Trade,
Trade Governance,
WTO
The building on Lake Geneva which houses the WTO stands as the symbol of the multilateral trading system and the bastion of global non-discrimination in trade governance. Meetings held under WTO auspices, whether physical or virtual, attract global participation by all trading partners. No other
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For PBOC’s New Green Lending Tool, Transparency and Verification Are Key
Sebastian Guo | 10 December 2021
Monetary,
Op-Eds | Tags:
Central Banks,
China,
Climate Change,
Targeted Refinancing Lines
Global efforts to expedite the transition to a sustainable future require a significant shift in financial flows. The institutions governing finance play a vital role in achieving this objective. Central banks stand at the heart of this endeavor and are increasingly rising to the challenge.
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Postponing the WTO Ministerial Conference – Making the Unexpected Breathing Space a Turning Point
Oliver Braunschweig and
Hildegunn Kyvik Nordås | 6 December 2021
Trade,
Blog | Tags:
Agricultural Trade,
Health,
Services Trade,
Trade Governance,
WTO
The WTO 12th Ministerial Conference (MC12), which was due to take place in Geneva from 30 November – 3 December, was postponed indefinitely last minute due to new COVID-19 travel restrictions. Despite hectic activity on a rather modest agenda during the run-up to the event,
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Is the OECD/G20 International Corporate Tax Reform Fair?
Peter Dietsch | 26 November 2021
Fiscal,
Blog | Tags:
Corporate Tax,
Developing Countries,
Minimum Tax Rate,
Tax Competition
On October 8th, the Organisation for Economic Co-operation and Development (OECD) announced that 136 countries have adopted its two-pillar proposal to reform the taxation of multinational enterprises (MNEs).
Pillar One applies to MNEs with sales in excess of $20bn and profits over 10%. It shifts the
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The Moratorium on Tariffs on E-commerce Should Stay
Hildegunn Kyvik Nordås | 25 November 2021
Trade,
Blog | Tags:
Digitalization,
Tariffs,
WTO
The rise of the digital economy will be hitting the agenda at next week’s Ministerial Conference (MC12) of the World Trade Organization (WTO) in many ways. The continuation of the provisional e-commerce moratorium is one of them – and one that is critical. The e-commerce
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